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Theories Of Consumer Behaviour

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1.0 Introduction

Consumer behaviour research attempts to understand the buyer decision-making process, both individually and collectively. It studies individual consumer characteristics such as demographics and behavioural variables in an attempt to understand people’s wants. Consumer behaviour research allows for improved understanding and forecasting concerning not only the subject of purchases but also purchasing motives and purchasing frequency according to Schiffman and Kanuk (kanuk, 2007). For companies to attain commercial success, it is important that managers understand consumer behaviour. The relationship between consumer behaviour and marketing strategy is emphasised because the success of companies. Marketing strategies depends …show more content…

(Solomon M. , 2006). The concept of consumer behavior is essential to the fashion retail industry to understand there consumer. Focusing particularly on the fashion retailing industry this review will analyze the modern and traditional theories of consumer behavior, culture, buying behavior and consumer developments which have arisen from the central topic of consumer behavior.

2.0 Origins of consumer behavior

Consumer behavior is a very new field and, as it grows, it is being …show more content…

Maslow wanted to understand what motivates people. He believed that people possess a set of motivation systems unrelated to rewards or unconscious desires (Maslow, 1943). The 5 needs are Biological and Physiological needs, safety needs, esteem needs, love and belonging and self-actualization. Consumer behavior has changed dramatically in the last few decades due to globalization technology advancement and wealth improvements. Today’s consumer is a far more complex character than Maslow once thought. The literature today calls for a revamp of Maslow’s heavily sighted work to make it applicable in today fast passed world. As you can see in figure 1 consumers today are more egotistical as they care more about how they look and feel than their needs and safety. It is clear that these needs have evolved dramatically over the

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